Cello World Mops Up Rs 567 Crore From Anchor Investors Ahead Of IPO
The consumer houseware company allotted 87.5 lakh shares at Rs 648 apiece to 39 anchor investors.
Cello World Ltd. has raised Rs 567 crore from anchor investors ahead of its initial public offering next week.
The consumer housewares company allotted 87.5 lakh shares at Rs 648 apiece to 39 anchor investors.
The marquee investors include ICICI Prudential Life Insurance Co., SBI Life Insurance Co., HDFC Mutual Fund, Aditya Birla Sun Life Insurance Co., BNP Paribas Arbitrage, Morgan Stanley, Nomura, Motilal Oswal, Edelweiss and Goldman Sachs, among others.
Eight domestic mutual funds have applied through a total of 11 schemes, the company said in an exchange filing. They have collectively netted 27.9% of the anchor portion of Rs 158 crore.
ICICI Prudential, Aditya Birla Sun Life, and Motilal Oswal have secured an allocation of 5.26% each.
About Cello World IPO
Cello World will launch its initial public offering on Oct. 30. The IPO issue will close on Nov. 1.
The IPO comprises an offer for sale of 2,93,20,987 shares, amounting to up to Rs 1,900 crore. The company does not have any fresh issues.
Cello World primarily deals in three categories: stationery and writing instruments, moulded furniture, consumer housewares, and associated goods.
The own/lease and operates 13 manufacturing facilities across five locations in India as of June 30, and is currently establishing a glassware manufacturing facility in Rajasthan. The company's manufacturing capabilities allow it to manufacture a diverse range of products in-house.
